Sage cut at Morgan Stanley on worsening U.K. environment

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LONDON (MarketWatch) -- Morgan Stanley downgraded accounting software provider Sage Group
SGE, -0.57%
to underweight from overweight and cut its price target to 185 pence from 255 pence, citing the sharp deterioration in the U.K. macro environment. The broker told clients it sees U.K. weakness on top of a relatively weak performance in the U.S. as a poor backdrop for the shares in the near term.

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